Billionaire Tilman Fertitta completes purchase of Montage Laguna Beach resort

Tilman Fertitta has reached a deal to become the new owner of the Montage Laguna Beach resort, representatives for the Houston billionaire said in a statement Monday.

Reports had surfaced recently that Fertitta was considering purchasing the oceanfront hotel for $650 million. China-based Dajia Insurance Group Co. had been the previous owner of the Laguna Beach luxury resort, which opened in 2003.

“I am truly thrilled to acquire this world-renowned property and add one of America’s most iconic trophy resorts to our luxury hotel portfolio,” Fertitta said via the announcement. “I have been traveling to Laguna Beach for over 30 years. It is one of my favorite places to visit and one of the most beautiful areas in the world. The Montage is a stunning oceanfront property and one of the premier hotel brands in the world.”

Fertitta, who bought the Houston Rockets basketball franchise for $2.2 billion in 2017, owns several hotel properties, including five Golden Nugget casinos and hotels, Post Oak Hotel in Houston, the San Luis Resort in Galveston, and the Huntting Inn in East Hampton, New York.

“We are thrilled that Tilman is the new owner of this one-of-a-kind property and welcome him into the Montage family,” Alan Fuerstman, founder, chief executive and chairman of Montage International, said in a statement.

The Montage Laguna Beach, located at 30801 S. Coast Highway in South Laguna, is a 30-acre, 260-guestroom luxury resort. It boasts a 20,000-square-foot spa, two pool decks, and three restaurants — the Loft, Mosaic Bar and Grille, and Studio.

“The staff is thrilled to be working with Tilman,” Mary Rogers, general manager of the Montage Laguna Beach, said. “Everyone here at the property is tremendously excited about his purchase and look forward to continuing to provide a world-class experience to all of our guests.”

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